SAN DIEGO, Calif., Dec. 23 /PRNewswire-FirstCall/ -- Patriot Scientific Corporation (BULLETIN BOARD: PTSC) announced today the company has initiated legal action against several multi-national consumer electronics companies seeking damages for patent infringement of microprocessor clocking mechanisms held within its portfolio. The initial filing is with the U.S. District Court for the Southern District of New York under case number 03 CV 10142 (DAB). PTSC believes specific patents within the company's portfolio to be foundational with numerous additional companies currently benefiting from its technology.
Jeff Wallin, president and CEO of PTSC stated, "This event represents a major milestone in achieving commercial value for PTSC's innovative processing technologies. This is the first of many anticipated actions in the interest of protecting the company's patent portfolio."
The initial filings will be seeking damages in excess of several hundred million dollars.
An investment profile on Patriot Scientific may be found at http://www.hawkassociates.com/patriot/profile.htm.
About Patriot Scientific
Patriot Scientific is an intellectual property company developing and marketing innovative and proprietary semiconductor technologies into the fast- growing hand held wireless and smart card markets. The company's portfolio of patents encompasses what is believed to be fundamental microprocessor technology and includes additional patents pending to protect its technology and architecture. For more information please visit Patriot Scientific online at http://www.ptsc.com/
For investor relations information contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 852-2383. Email: firstname.lastname@example.org For Patriot Scientific information contact Lowell Giffhorn at (858) 674-5018. Detailed information about Patriot Scientific can be found on the website http://www.ptsc.com/. Copies of Patriot Scientific press releases, current price quotes, stock charts and other valuable information for investors may be found on the website .
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Statements in this news release looking forward in time involve risks and uncertainties, including the risks associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, technical development risks, seasonality and other risk factors detailed in the company's Securities and Exchange Commission filings.